What is the role of technology in making global world or what does make a global world?

Technology definitely played an important role in globalizing the world economy during this period. … Telegraph helped in speeding up the communication and thus facilitated better economic transaction. Trade in Meat: Trade in meat shows a very good example of benefit of technology on the life of common people.

The Pre–modern World From ancient times, travellers, traders, priests and pilgrims travelled vast distances for knowledge, opportunity and spiritual fulfilment, or to escape persecution. As early as 3000 BCE an active coastal trade linked the Indus valley civilisations with present-day West Asia.

1. Global (world wide) : Involving all countries of the globe. 2. Globalisation : Integrating economy of a country with the economies of other countries under condition of free flow of trade, capital and labour.

Answer: As technological advancements have reduced the amount of time and effort spent on daily activities, employees can now spend more time on creativity and developing new ideas. New technology has enabled remote working, teleconferencing and co-working space which has completely reshaped the modern workplace.

Technology has helped us in overcoming the major hurdles of globalization and international trade such as trade barrier, lack of common ethical standard, transportation cost and delay in information exchange, thereby changing the market place.

Technological globalization is speeded in large part by technological diffusion, the spread of technology across borders. In these countries, far fewer people have the training and skills to take advantage of new technology, let alone access it. …

Globalization has brought benefits in developed countries as well as negative effects. The positive effects include a number of factors which are education, trade, technology, competition, investments and capital flows, employment, culture and organization structure.

Starbucks is a force for globalization because it was successful in expanding into foreign markets. It has attracted similar companies to expand internationally as well.

Globalization is the word used to describe the growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information.

Manfred Steger, professor of Global Studies at the University of Hawaii at Manoa argues that globalization has four main dimensions: economic, political, cultural, ecological, with ideological aspects of each category.

Political globalization is one of the three main dimensions of globalization commonly found in academic literature, with the two other being economic globalization and cultural globalization.

Article shared by : ADVERTISEMENTS: All theories of globalization have been put hereunder in eight categories: liberalism, political realism, Marxism, constructivism, postmodernism, feminism , Trans-formationalism and eclecticism.

When we hear the term globalization, we immediately think of integrated financial systems, tariffs, trade rules, and transnational economic networks. Of course, all of this is important. The forces of globalization have provided for extraordinary growth.

Globalization is driven by various new development and gradual changes in the world economy. Generally, organizations go global for expanding their markets and increasing their sales and profits. One of the major forces of globalization is the expansion of communication systems.

What Are the Benefits of Globalization?

• Access to New Cultures. Globalization makes it easier than ever to access foreign culture, including food, movies, music, and art. …
• The Spread of Technology and Innovation. …
• Lower Costs for Products. …
• Higher Standards of Living Across the Globe. …
• Access to New Markets. …
• Access to New Talent.

The Pros and Cons of Globalization

• Pro 1: Globalization broadens access to goods and services.
• Pro 2: Globalization can lift people out of poverty.
• Pro 3: Globalization increases cultural awareness.
• Pro 4: Information and technology spread more easily with globalization.

Arguments Against Globalization:

• Gains of Globalisation for Rich at the Cost of Poor: …
• Source of Repeated Economic Crises: …
• Globalisation as an Imposed Decision of the Rich: …
• Unequal Distribution of Benefits: …
• Strengthened Role of MNCs: …
• Private Profits at the Cost of Social Security:

So in today’s world, globalization is an important concept for students in higher education to understand and appreciate because of the demand in business and industry to hire people who can work with people of other nations and cultures and if need be can travel independently internationally to promote their business …